{"data":{"id":"us-ky/krs-386b.4-110","jurisdiction":"us-ky","citation":"KRS 386B.4-110","heading":"Modification or termination of noncharitable irrevocable trust by","body":"consent.\n(1) Except as otherwise provided in the terms of the trust, a noncharitable irrevocable\ntrust may be modified or terminated upon consent of the settlor and all\nbeneficiaries, without court approval, even if the modification or termination is\ninconsistent with a material purpose of the trust. A settlor's power to consent to a\ntrust's modification or termination may be exercised:\n(a) By an agent under a power of attorney only t o the extent expressly authorized\nby the power of attorney and not prohibited by the terms of the trust;\n(b) By the settlor's conservator with the approval of the court supervising the\nconservatorship if an agent is not so authorized and the conservator is  not\nprohibited by the terms of the trust; or\n(c) By the settlor's guardian with the approval of the court supervising the\nguardianship if an agent is not so authorized and a conservator has not been\nappointed and the guardian is not prohibited by the terms of the trust.\n(2) A noncharitable irrevocable trust may be terminated upon consent of all of the\nbeneficiaries if the court concludes that continuance of the trust is not necessary to\nachieve any material purpose of the trust. A noncharitable irrevocable  trust may be\nmodified upon consent of all of the beneficiaries if the court concludes that\nmodification is not inconsistent with a material purpose of the trust.\n(3) A spendthrift provision in the terms of the trust is not presumed to constitute a\nmaterial purpose of the trust.\n(4) Upon termination of a trust under subsection (1) or (2) of this section, the trustee\nshall distribute the trust property as agreed by the beneficiaries.\n(5) If not all of the beneficiaries consent to a proposed modification or t ermination of\nthe trust under subsection (1) or (2) of this section, the modification or termination\nmay be approved by the court if the court is satisfied that:\n(a) If all of the beneficiaries had consented, the trust could have been modified or\nterminated under this section; and\n(b) The interests of a beneficiary who does not consent will be adequately\nprotected.\n(6) Subsection (1) of this section shall not apply to the following types of trusts:\n(a) First-party special needs or supplemental trusts created under KRS 387.855 to\n387.910;\n(b) Trusts created under 42 U.S.C. sec. 1396p(d)(4)(A);\n(c) Trusts created under 42 U.S.C. sec. 1396p(d)(4)(C);\n(d) Trusts created under 42 U.S.C. sec. 1396p(c)(2)(B); and\n(e) Third-party special needs or supplemental trusts established by a will, trust, or\nsimilar document and created under the common law or any other law of the\nCommonwealth.\n(7) The District Court shall have exclusive jurisdiction over matters under subsection\n(2) of this section.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=43096","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:59:19Z","sha256":"5f2ac165de4f5d5da75ba1791a250c822b293c47549b6bfdfa13066f688ddd92","source_id":"us-ky","stale":false,"prev":"us-ky/krs-386b.4-100","next":"us-ky/krs-386b.4-120"},"notice":"GroundRules: Original legal text. Not legal advice."}